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Education

Merchant cash advance Then if you are approved, Rapid Finance will decide the
size of your advance. Repayments are flexible, and you'll
options – old and new be told everything you need to know upfront.
Reliant Funding
Reliant Funding is not dissimilar to Rapid Finance, al-
though the process to apply is a little quicker. Reliant
Funding will also need to look at the incoming card trans-
actions for your business over the last few months to see
whether your business could qualify for a merchant cash
advance. If so, you'll then be making flexible repayments.
It's a good idea to check out both Reliant Funding and
Rapid Finance to see how well each would satisfy your
By Chad Otar needs.
Lending Valley Things to keep in mind

or many business owners, a merchant cash Remember, this is just an introduction to merchant cash
advance is ideal for supplying fast funding. As advance options. Since taking advantage of a merchant
merchant cash advances are paid back through cash advance will impact your business or that of your
F sales, they are often easier and faster to secure merchant customers, it is important to conduct research
than traditional bank loans. With a merchant cash advance, to make sure you have the right merchant cash advance
you'll only be repaying the advance when sales are rolling for you.
in (as you pay back a percentage of your sales income).
Thus you won't be putting your business on the financial Things that may make a difference to you in selecting
brink if sales are a little leaner on occasion. a provider are the amount of time it takes a provider to
make a decision, which can range from days to minutes;
Merchant cash advances have gained in popularity since amount of money you are able to receive, which will vary
they were introduced in the 1990s. You can thank the rise depending on your financial situation and a provider's un-
in small businesses, particularly online, for this. In this derwriting parameters; and algorithms or other advanced
article, I'll share information on a few merchant cash ad- technology available to crunch data to help analyze a bor-
vance options available today. This is not a complete guide rower's creditworthiness and then handle repayment.
to every merchant cash advance provider (there are doz-
ens if not hundreds), but rather a quick look at the varied Also, do not have more than one merchant cash advance
merchant cash advance options sphere. running at a time. For starters, it breaks the rules for many
Shopify Capital lenders, but it also means that you will be stretching your
finances thin with multiple advances, which is what a mer-
Many of today's small businesses are running their opera- chant cash advance is meant to prevent. So, spend hours,
tions through Shopify. If you are in the same boat, then or even a few days, checking out the options.
you may want to consider the modern Shopify Capital.
Just like PayPal Working Capital, Shopify will look at the As a service provider, consider researching what kind of
sales you have coming through your Shopify account to partnership opportunities various providers provide, too,
determine whether you qualify for Shopify Capital. The so you can add merchant cash advance to your product
decision process takes a bit longer than some other cash suite.
advance options: you'll need to wait two to three days to
get an answer. Lending Valley, also provides merchant cash advances.
However, as a contributing writer, my aim is to provide
Repayment on Shopify Capital follows the typical cash ad- helpful information without extolling the benefits of my
vance model. It will be based on daily sales, so you pay own company. If you're interested in contacting me for
back only what you can afford (in theory). further information about this article, please get in touch
using the contact information in my bio.
Rapid Finance
Rapid Finance is a more traditional merchant cash ad- Note: I consulted the following sources for this article:
vance company, even though it does business only online. https://tinyurl.com/4rhex4xs and www.lendingvalley.com.
Like traditional merchant cash advance companies, Rapid
Finance will look at your bank and credit card processing Chad Otar is CEO of Lending Valley Inc. For information about the
statements to see how much cash you have coming in. The company, please visit www.lendingvalley.com. To reach Chad, send an
company will need to look at the last three months. email to chad@lendingvalley.com.

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